JPY weakness following Japanese elections is providing offset support to currencies such as the EUR and GBP while upporting USDJPY.. Curious that AUD has not benefited.
As for EURJPY, yesterday’s 166.08 high has been re-tested and its significance is there is little on the upside for another 9-10 big figures. This makes 166,08 a key level.
Note this follows yesterday’s bounce from just above the bottom of the ipoening week gap.